Cancel the common factor. Divide each term by and simplify. Now is a good time to have a break before we look at two more topics.
Now is a good time to have a break before we look at two more topics.
The future value FV of an investment of present value PV dollars earning interest at an annual rate of r compounded m times per year for a period of t years is. Amount after t years A. AP1rnnt Use the compound interest formula AThe amount of money in the savings account PThe principle rThe interest rate converted to a decimal tThe time that the money is in the account nThe number of times the money is compounded per year. Cancel the common factor of.